Understanding Your Award - The goal of the Office of Student Financial Aid (OSFA) is to assist in financing as much of your cost to attend NC A&T State University within eligibility. The OSFA recognizes that some students are not able to meet the entire cost to attend the University. The Financial Aid Award Information Guide was developed to provide you with information on programs, policies and procedures. It is very important that you read this document in full to become familiar with programs, policies and guidelines relating to your award. Some awards are based upon eligibility which is calculated using the information provided on the Free Application for Federal Student Aid (FAFSA).

The University reserves the right to change without notice any award due to federal, state and or institutional changes in policies, procedures or regulations.

Your award notification indicates the types and dollar amounts of aid awarded. You have the right to accept or decline all or a portion of your award. All students must accept or decline the aid awarded on Aggie Access Online. Declining a specific award does not mean that it will be replaced with additional funds. Accepting your award is an acknowledgement that you have read and will abide by all the rules and regulations of each program awarded.

It is recommended that you check your NC A&T email account (aggies email accounts ) and Aggie Access on a regular basis to ensure you remain informed regarding your financial aid awards and other pertinent information. [Back to Top]

Your Award Package Your award letter may include grants and scholarships. These awards are considered “gift award” free money and do not require repayment. Grants and Scholarships do not require your acceptance on Aggie Access. They will automatically be accepted on your behalf. If you are receiving aid and/or scholarships not listed on your award letter, you must notify the Office of Student Financial Aid. This may result in an adjustment to your award package.

Your Award Package may also include work study and loan. Work study requires you to be work and receive a pay check for the hours employed and and/or loans which must be repaid with principle and interest. [Back to Top]

Adjustments to your Financial Aid Award The Office of Student Financial Aid makes every effort to provide you with timely and accurate information regarding your award. We also reserve the right to modify or cancel your financial aid award at any time during the academic year. You will be notified via your NCAT email if a revision is made to your award.

Common reasons for award being adjusted are residency changes, enrollment level changes, receipt of additional aid and changes to family income to name a few. Your actual enrollment will not be verified until the end of add/drop period. [Back to Top]

Federal Direct Loans Requirement If awarded a Federal Direct Loan, all students must accept, reduce or cancel their loan award on Aggie Access On-line. New students who are awarded a Federal Direct Loan will not have their loan funds disbursed until 30 days after the semester begins.

Requirements before a Federal Direct Loan can be disbursed to a first time borrower:(1) You must complete the Entrance Counseling Session at Studentloans.gov.(2) You must electronically sign a Master Promissory Note (on-line) at Studentloans.gov.(3) You must accept, reduce or decline your Federal Direct Loan on Aggie Access On-Line.

Work-Study Awards If you are awarded Federal work-study, a week before classes you will receive an email notification informing you of the Federal Work Study Workshops time and location. During the workshop you will be assigned a position on or off campus. Work-study students are paid bi-weekly at an hourly rate of at least $8.00 per hour. Work Study students generally work 10 -15 hours per week. [Back to Top]

Cost, Billing and Payments Now that you have received your award letter, the next question is “How much do I owe? You will be billed each semester for one-half of the university yearly charges. Students who reside off-campus will be billed for tuition and fees only. Students and parents should view the Fee sheet to obtain the semester cost.

Need help calculating your balance? A “How to Calculate Your Semester Balance” sheet was developed to assist you. You will need to view fee sheet for your cost. Please remember, this is only an estimate. You may have additional charges that are not reflected on the fee sheet.

E-Bills – The University will provide billing statements electronically. (Paper bills will no longer be mailed). Students and their assigned authorized bill payer will receive an email notification when a new billing statement is available online.

Tuition Pay - The University offers an installment payment plan that provides an opportunity to pay tuition, fees, room and board charges for the semester in up to 5 payments for one semester and 10 payments for the academic year. There is a fee to sign up for the tuition pay plan. You may apply at tuitionpay.com beginning June or you may contact them at 1-800-635-0120 for additional information. [Back to Top]

Disbursement Procedures Student Refunds Process - All financial aid funds, except Federal Work Study, will be disbursed in two payments to your student account by the Treasurer Office. One half of your award will be disbursed during the fall semester and the remaining during the spring unless otherwise noted. If your financial aid is in excess of the amount owed to the university, the refund will be deposited into your bank account if you sign up for direct deposit or a check will be mailed to you. [Back to Top]

Maintaining Satisfactory Academic ProgressSAP - All students must attend classes. Aid will be adjusted or canceled for students who fail to attend class(es). Students must also pass 67% of the hours attempted and earn a certain grade point average to continue receiving financial aid. [Back to Top]

Withdrawal The office of student financial aid understands that students must withdraw from the university for various reasons. Withdrawing could result in you having to repay all or portion of your financial aid back to the university. [Back to Top]

Professional JudgmentStudents may have special financial circumstances beyond their control. The Office of Student Financial Aid may exercise professional judgment for special circumstance, dependency override and make adjustment to the student’s FAFSA information or cost of attendance at the request of the student. [Back to Top]

Special Circumstance

The Higher Education Amendments of 1992 allows financial aid to exercise professional judgment for unusual family and/or student financial circumstances. Due to various circumstances, information listed on the FAFSA may not reflect the family’s current financial situation. If a change has occurred in the family’s financial status due to loss of income, unusual high medical expenses, divorce or separation, etc., students may submit a Special Circumstance Appeal Form along with supporting documentation such as year-to-date pay stubs, federal tax transcripts, termination notice from an employer, proof of separation or divorce, loss of untaxed income or any other documentation to support the appeal. All appeals are evaluated on a case-by-case basis. A copy of the appeal form may be obtain from the Office of Student Financial Aid. Students should be advised that a successful appeal does not guarantee additional financial aid being awarded. The Office of Student Financial Aid decision is final and cannot be appealed.

Cost of Attendance Budget Adjustment Request

Students sometimes face the challenge of not having enough funds to cover their educational expenses. A budget request may be made to increase the Cost of Attendance to account for extraordinary expenses a student may acquire while attending the University. The request should be submitted to the Office of Student Financial Aid along with supporting documentation. Generally, only loans are available for budget increases, if the student has not borrowed the maximum award for the academic year.

Glossary of Terms for Award Information - The Glossary of Terms for Award Notifications contains universally accepted definitions of language typically contained on award notifications given to current and prospective students. The intent of this glossary is: To provide definition and understanding of the most commonly used terms on the award notification.

Cost of Attendance (COA): The estimated cost of attending this institution for one academic year. This amount includes the following:

Estimated living expense -- allowance for rent, utilities, and food for off-campus living

Estimated transportation costs

Estimated books and supplies

Miscellaneous costs

Direct Costs: Expenses the student/family pays to the college.

Educational Loan: A form of financial aid that must be repaid with interest. Educational loans have varying interest rates and repayment terms. Students and/or parents are required to sign a promissory note when accepting an educational loan.

Student Loan: Funds awarded to the student that must eventually be paid back to the lender by the student.

1 - Federal Direct Student Loan: Loan funds provided to the student by the U.S. Department of Education, through the school. Repayment of principal begins six months after the borrower ceases to be a student on at least a half-time basis. The Free Application for Federal Student Aid (FAFSA) is the annual application. There are two types of Federal Direct Student Loans: subsidized and unsubsidized. Students with financial need can qualify for a subsidized loan, and the government pays the interest on the loan while the student remains enrolled at least half time. Students who don't demonstrate financial need qualify for an unsubsidized loan and interest accrues while the student is in school.

2 -Federal Parent Loan (PLUS): A federal loan program that allows parents who have no adverse credit history to apply for up to the Cost of Attendance each year, less any financial aid. PLUS loans must be repaid with interest.

3 - Federal Grad PLUS Loan: Loan funds provided to graduate students by the U.S. Department of Education, through the school. This federal loan program allows graduate students with no adverse credit history to apply for up to their Cost of Attendance each year, less any financial aid. To be eligible, the student must be enrolled at least half time in an eligible program of study and first borrow the maximum allowable through the Federal Direct Student Loan program. Repayment of principal and interest begins 30 to 60 days after the loan is fully disbursed with deferment and forbearance options available.

4 - Private (Alternative) Loan: A loan from a commercial, state-affiliated or institutional lender used to pay for up to the annual cost of education, less any financial aid received. Private loans usually require the applicant to be creditworthy or have a co-signer and have varying interest rates, fees and repayment options. Repayment of interest (and often principal) generally begins immediately, with some lenders offering deferment options for in-school periods.

Enrollment Level: Level of the degree-granting program in which a student is enrolled. Basic levels of enrollment include: undergraduate (students seeking an associate's degree, a certificate, or a baccalaureate degree); post-baccalaureate (such as teacher certification); graduate (students working on a master's degree or professional degree); and post-graduate (such as students enrolled in a doctoral program). The amounts and types of financial aid a student is eligible for is determined, in part, by their enrollment level. Enrollment Status: Academic workload (or course load), as defined by the institution, that a student is carrying for a defined academic period. This normally relates to the number of credit hours or clock hours taken by a student during a given academic period. For most traditional undergraduate term-based schools:

Full-time status = at least 12 credit hours

Three-quarter time status = at least 9-11 credit hours

Half-time status = at least 6-8 credit hours.

For most clock hour schools full-time enrollment equates to at least 24 clock hours per week.

Expected Family Contribution (EFC): A measure of how much the student and his or her family can be expected to contribute to the cost of the student's education for the year. The EFC is calculated according to a formula specified in the law and is based upon the information provided by the student and his or her family during the FASFA filing process.

Family Financial Responsibility: Many schools award institutional scholarships and grants based upon a more comprehensive calculation of family financial circumstances using information provided on the CSS PROFILE or the College's own financial aid form. This can result in a higher (or lower) financial responsibility for the student (and his/her family) than the FAFSA might indicate with its Expected Family Contribution (EFC) estimate.

Federal Pell Grant: A grant provided by the federal government to qualified undergraduate students who demonstrate exceptional financial need and have an Expected Family Contribution below a threshold designated annually by the U.S. Department of Education, based on the amount of program funds appropriated by Congress.

Federal Supplemental Educational Opportunity Grant (FSEOG): A grant provided by the federal government to qualified undergraduate students who demonstrate exceptional financial need. Priority is given to Pell Grant recipients and funds must be awarded by the school in lowest EFC order.

Federal Work-Study (FWS): A program that provides part-time employment to students attending institutions of higher education who need the earnings to help meet their costs of postsecondary education and encourages students receiving FWS assistance to participate in community service activities.

Gift Aid: Funds awarded to the student that do not have to be repaid, unless the student fails to meet certain terms, such as a service requirement, specified as a condition of the grant. Gift aid includes awards with titles such as grants, scholarships, remissions, waivers, etc. Gift aid can be awarded based upon many factors, including (but not limited to) financial need, academic excellence, athletic, musical, and theatrical talent, affiliation with various groups, or career aspirations.

Grant: Gift aid awarded to the student that does not need to be repaid. Grants are typically based on financial need.

Indirect Costs: Expenses incurred as a result of attendance that the student/family may pay to a third party (merchant, landlord, etc.) other than the college.

Net Cost: Amount of direct and indirect costs remaining after all gift aid (scholarship and grant) is subtracted.

Out-of-pocket Cost: Difference between the cost of attendance and all gift aid. Out-of-pocket cost can be covered through a variety of sources, including: savings, income and educational loans.

Scholarship: Gift aid awarded to the student that does not need to be repaid. Scholarship awards are typically based on merit or a combination of merit and need, such as academic excellence, talent, affiliation with various groups, or career aspirations.

Self-help: Financial aid in the form of loans or student employment. Loans are used to help pay the remaining net costs after gift aid is deducted. Student employment earnings (including Work-Study awards) are generally not deducted from billed costs but can be used to help cover indirect costs and are paid in the form of wages to the student.

Verification: Process to confirm the accuracy of data provided by the applicant on the FAFSA. In order to complete the verification process, students are required to provide certain documents to the school for review.